Melton Mowbray Building Society Conveyancing Panel Information
The information on this page is designed to keep solicitors and licensed conveyancers abreast of latest requirements changes by Melton Mowbray Building Society and to assist in remaining on the Melton Mowbray Building Society Approved Conveyancing Solicitors Panel.
Looking for information about your firm's panel status?
Melton Mowbray Building Society Conveyancing Panel Information:
What are the Melton Mowbray Building Society conveyancing panel arrangements?
Unlike the CML the Building Society Mortgage Instructions deal with this. Section A.12 states ‘In order to act on our behalf your firm or company must be a member of our conveyancing panel provided we are a society that operates one – see specific requirements for details of our arrangements. The Special Requirements state:
All conveyancers are subject to panel requirements and must be approved onto the Society's conveyancing panel. Please refer to the mortgage completions team if further information is required.
You must also comply with the terms and conditions of your Melton Mowbray Building Society solicitor panel appointment.
Do Melton Mowbray Building Society or the BSA run CPD Courses for the Melton Mowbray Building Society approved solicitor panel in much the same way that the Law Society run cases for CQS accedited practices?
The BSA do not involve themselves in training but they do provided a number of useful legal related conferences which are attended by firms on the Melton Mowbray Building Society conveyancing panel. We do intend to run specific lender focused seminars in the near future including a webinar on Melton Mowbray Building Society’s obligations . Law firms on the Melton Mowbray Building Society conveyancing panel will be invited . Information about the webinar will be made available as part of the LENDERmonitor Alerts .
Are the Council of Licensed Conveyancers taking any action to ensure that licensed conveyancers remain on lender conveyancing panels?
The Council of Licensed Conveyancers has entered dialogue with banks and their representative bodies to see whether and how the risks that lenders wish to mitigate could be addressed through the regulatory framework rather than ad hoc arrangements that can differ from lender to lender. We expect that that the CLC have been in touch with lenders such as Melton Mowbray Building Society since 2008 which is when lenders started being more restrictive
Are there conditions,outside the BSA Mortgage Instructions, that a firm should be aware of when on the Melton Mowbray Building Society conveyancing panel?
In order to be on the Melton Mowbray Building Society conveyancing panel solicitors have to complete an application form and agree Terms and Conditions. A sample of 5 conditions that we see amongst many lenders Terms (but not necessarily Melton Mowbray Building Society) are as follows:
- To be responsible for the reconstitution of the title deeds (whether the title is registered or unregistered, at your own cost), where any deeds in your possession, or were last known to be in your possession, go missing.
- To carry out our instructions with reasonable care and skill, ensuring that all employees carrying out mortgage work on our behalf are qualified and competent to do so
- To keep us informed of the reasons for any delay in your being able to send the title deeds and documents we require to us within 3 months of completion or evidence of proof of registration within that period. (We will send reminders if the deeds have not been received but will not acknowledge receipt of deeds.)
- To quote on all communications with us relating to deeds issues, whether by telephone or in writing, the panel number that we provide for each practising address and the mortgage account or application number for the mortgage concerned.
- That any deeds you borrow from us in connection with the personal mortgage of a partner or director at your firm must be requested by a partner or director other than the partner or director concerned and the transaction must be handled by that other partner or director. If you are a sole practitioner and require the loan of deeds in connection with your own mortgage, you must nominate a different firm on our panel to request the deeds and handle the transaction.
My firm is not on the Melton Mowbray Building Society conveyancing panel as well other banks . My clients, who are getting a mortgage with Melton Mowbray Building Society still want me to act for them regardless of the fact that we are not on the Melton Mowbray Building Society panel. Is it fine for me to use a firm down the road to act for Melton Mowbray Building Society on mortgage aspect of the conveyancing?
You need to be careful here as what you are proposing may not be acceptable to the lender. It is possible that you (as a non-panel firm) or the mortgage applicant are not at liberty instruct a panel firm of your choice. An increasing amount of lenders are making it clear to their panel firms that where a non-panel member firm is instructed by one of their mortgage applicants, the lender must appoint a panel firm to carry out its instructions and to liaise with the borrower's conveyancer. You also need to make the costs implications and potential for delay very clear to your client.
I have been a sole practitioner for approximately 25 years without a single claim against me and have been refused acceptance on the Melton Mowbray Building Society conveyancing panel with no explanation. Am I not entitled to know why?
Participation on the lender's panel of conveyancers is at the absolute discretion of the the lender. The days of open panels are now long gone. Many lenders reserve the right to accept or reject any application without giving any reason. You should check your original application to join the Melton Mowbray Building Society conveyancing panel to see if you are entitled to a reason.
Can the BSA help me join the Melton Mowbray Building Society conveyancing panel?
The BSA has no role in influencing what conveyancers Melton Mowbray Building Society instructs. If you want to be admitted onto Melton Mowbray Building Society conveyancing panel you should contact Melton Mowbray Building Society directly.
What lender panels do you receive the most questions about?
BSA lenders do not come within the top 20 lenders in terms of frequency of questions. The most popular lender panels in terms of questions are as follows:
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Average number of days to register title including a charge in favour of Melton Mowbray Building Society
This information relates to purchase only and not remortgages.
* Data aggregated from sources including COMPLETIONmonitor